99 problems but the rich 'aint one

[image error]I've just picked up on this thought-provoking 2008 article from the Boston Globe on a psychological theory of poverty that suggests that traditional economic models just don't apply to the poor.

The article riffs on an apparently under-recognised book by philosopher Charles Karelis called The Persistence of Poverty: Why the Economics of the Well-off Can't Help the Poor.

Compared with the middle class or the wealthy, the poor are disproportionately likely to drop out of school, to have children...